We’re already in the recovery phase today,” Lee said in the interview. “We have begun rolling out efficient manufacturing and service operations and plan to restore those operations in the coming weeks.”
The company reported the incident to law enforcement and investigated the full extent of the costs and the amount recoverable by cyber insurance, as indicated .Seth Bagshaw, chief financial officer of
, said the company expects to recover significantly from the revenue shortfall by the end of the second quarter.
MKS Instruments has hired incident response specialists and notified law enforcement, according to SEC filings.
The attackers encrypted corporate and production systems and may have stolen personal information, according to a document filed with California regulators.
The company could not immediately confirm that employee data was stolen, but said it was a possibility. Information may include names, addresses, social security numbers, bank account and payment card details, medical records, compensation information, and other personal information.
The attack undermined strong financial performance in the fourth quarter of 2022, when MKS Instruments reported record quarterly revenue of $1.09 billion, up 42% from the prior-year period, beating its top position in revenue.